Vitrolife AB Interim report Q3, 2024: Improved growth with solid margins

Rhea-AI Summary

Vitrolife reported strong Q3 2024 performance with sales reaching SEK 867 million, showing a 7% increase in local currencies. The company saw regional growth of 9% in EMEA, 2% in Americas, and 9% in APAC. Business areas showed varied performance with Consumables up 13%, Technologies up 11%, while Genetics remained flat. The gross margin improved to 58.6% from 55.7%. EBITDA reached SEK 289 million with a 33.4% margin. For the first nine months, total sales were SEK 2,650 million, with a 4% increase in local currencies and improved EBITDA of SEK 888 million.

Positive

• Sales increased 7% in local currencies to SEK 867 million in Q3
• Gross margin improved to 58.6% from 55.7% in Q3
• Strong regional growth in EMEA and APAC (both +9%)
• Consumables and Technologies segments showed double-digit growth (13% and 11%)
• Nine-month EBITDA increased to SEK 888 million with improved margin of 33.5%
• Earnings per share for nine months improved to SEK 2.76 from SEK 2.42

Negative

• Operating cash flow decreased to SEK 206 million from SEK 214 million in Q3
• Q3 net income declined to SEK 116 million from SEK 122 million
• Genetics business segment showed 0% growth in Q3
• Americas region showed weak growth of only 2% in Q3

GOTHENBURG, Sweden, Oct. 24, 2024 /PRNewswire/ -- 

Third quarter 

• Sales of SEK 867 (848) million, an increase of 7% in local currencies and 2% in SEK.

• Sales per region, in local currencies was +9% in EMEA, +2% in Americas and +9% in APAC.

• Sales per business area, in local currencies was +13% in Consumables, +11% in Technologies and 0% in Genetics.

• Gross margin increased to 58.6% (55.7).

• Operating income before depreciation and amortisation (EBITDA) was SEK 289 (287) million, giving an EBITDA margin of 33.4% (33.9).

• Operating cash flow decreased to SEK 206 million (214).

• Net income was SEK 116 (122) million, resulting in earnings per share of SEK 0.85 (0.90).  

First nine months

• Sales of SEK 2,650 (2,607) million, an increase of 4% in local currencies and 2% in SEK.

• Sales per region, in local currencies was +6% in EMEA, -2% in Americas and +7% in APAC.

• Sales per business area, in local currencies was +10% in Consumables, +20% in Technologies and -7% in Genetics.

• Gross margin increased to 58.6% (56.1).

• Operating income before depreciation and amortisation (EBITDA) increased to SEK 888 (842) million, giving an EBITDA margin of 33.5% (32.3).

• Operating cash flow increased to SEK 640 million (586).

• Net income was SEK 375 (328) million, resulting in earnings per share of SEK 2.76 (2.42).
               

Gothenburg, October 24, 2024
VITROLIFE AB (publ)
Bronwyn Brophy O´Connor, CEO

The information was submitted for publication, through the agency of the contact persons set out above, at 24-10-2024 08:00 CET.

Contact: 
Patrik Tolf, CFO, phone +46 (0) 31 766 90 21

This is a translation of the Swedish version of the press release. When in doubt, the Swedish wording prevails.

 

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/vitrolife-ab--publ-/r/interim-report-q3--2024--improved-growth-with-solid-margins,c4055545

The following files are available for download:

https://mb.cision.com/Main/1031/4055545/3070927.pdf

Interim report Q3, 2024

 

FAQ

What was Vitrolife's (VTRLY) Q3 2024 revenue growth?

Vitrolife's Q3 2024 sales grew 7% in local currencies and 2% in SEK, reaching SEK 867 million.

What was Vitrolife's (VTRLY) gross margin in Q3 2024?

Vitrolife's gross margin in Q3 2024 increased to 58.6% from 55.7% in the previous year.

How did Vitrolife's (VTRLY) different business segments perform in Q3 2024?

In Q3 2024, Consumables grew 13%, Technologies grew 11%, and Genetics showed 0% growth in local currencies.

What was Vitrolife's (VTRLY) earnings per share for the first nine months of 2024?

Vitrolife's earnings per share for the first nine months of 2024 was SEK 2.76, up from SEK 2.42 in the previous year.